OKXICE, a JV between OKX and ICE, is seeking SEC approval to offer tokenized shares of 63 NYSE-listed firms, as it leverages new US rules on tokenized stocks

Tokenized U.S. stocks can now be traded 24/7 on a regulated venue with preserved shareholder rights.

OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), has filed with the U.S. Securities and Exchange Commission (SEC) to launch a trading venue for tokenized U.S. stocks. The platform intends to initially offer blockchain-based shares of over 60 U.S.-listed companies. This initiative aims to enable 24/7 trading and faster settlement, while ensuring tokenized shares retain dividend and voting rights. The plan leverages a new five-year SEC exemption for innovative trading venues. The launch is contingent on regulatory approvals, including a 30-day period during which companies can object to the tokenization of their shares. The JV was formed in June to develop infrastructure for tokenized financial products, signaling a move towards mainstream adoption of tokenized assets.

The move by OKXICE to offer tokenized shares of U.S. companies on a regulated venue signals a significant step towards mainstream adoption of blockchain-based securities. By leveraging the SEC's new innovation exemption, the venture aims to bridge traditional finance with crypto infrastructure, offering enhanced efficiency and accessibility in trading. This development could pave the way for broader institutional acceptance of tokenized assets and set a precedent for future market structures.

This initiative affects investors by potentially offering greater flexibility and liquidity for U.S. stocks, allowing trading outside traditional market hours. For the companies involved, it presents an opportunity to participate in a more modern, efficient trading system, though they retain the right to object. The success of OKXICE's venue will depend on regulatory navigation and market response, potentially influencing the speed at which other traditional financial assets are tokenized.